What are the options for parents who have nannies full time ..
The cost of a full time nanny can be c.£30k+/- gross - And this is before the parent has to pay their own tax and NI on their own salary!
Now if I understand correctly parents will also have to contribute up to 3% pension. That is c.£1k extra p.a. Is it deductible?
Are there any rebates or other mechanism to reduce the overall cost? In many other European countries childcare is partly deductible , however parents in the UK do not have the ability to deduct any of the cost and are now faced with yet another expense.
I would be grateful if someone could explain to me what will be the impact of the new pension and whether there are any means of reducing the overall childcare cost.